Section 500.5020 - Examination of articles by attorney general; fee.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.5020 Examination of articles by attorney general; fee.
Sec. 5020.
(1) Before such articles of incorporation shall be effective for any purpose the same shall be submitted to the attorney general for his examination, and if found by him to be in compliance with this code he shall so certify to the commissioner.
(2) Each and every insurer hereafter incorporated, where its articles of incorporation are required to be approved by the attorney general, shall pay to the attorney general for the use and benefit of the state of Michigan, the examination fee provided for in section 240 (2). It shall be unlawful for the attorney general to approve any articles of incorporation for mutual insurers until such examination fee is paid to him.
History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218